Retirement Benefit

This feature is available after applying for WORKS Payroll.

You can make an automatic calculation using the amount on the payroll ledger for retiring employees, or enter the retirement benefit manually.

You can calculate retirement income tax for the retirement benefit, and create the receipt for retirement benefit income tax withholding and electronic file of payment statement.
You can automatically calculate the payment amount of DC-type retirement pension.

Enter Retirement Benefit

You can calculate or enter the retirement benefit.

To calculate or enter retirement benefits, you need to first enter the retirement date in the ‘Individual HR Data’ tab of the ‘Payroll > Settings > Manage Master’.
For an interim settlement of retirement benefits, you must enter the retirement benefit interim settlement date.

Calculate Retirement Benefit

The following describes how to calculate the retirement benefit.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Enter Retirement Benefit' from the menu.
  4. Click the ‘Calculate Retirement Benefit’ tab.
  5. If necessary, enter the search conditions in the search window, and then click ‘Search’.
    • Type: Select the type of retirement benefit calculation from among final retirement benefit, retirement benefit interim settlement, and retirement payroll estimate.
      • Final Retirement Benefit: The targets who have the same retirement date on Individual HR Data are searched.
      • Retirement Benefit Interim Settlement: The targets who have the same interim settlement date on Individual HR Data are searched.
      • Retirement Payroll Estimate: The targets who are current employees as of the Retirement Date are searched.
    • Retirement Date: Enter the retirement date used to calculate the retirement benefit.
      • This date refers to the retirement date for the final retirement benefit, interim settlement date for the retirement interim settlement, and the base date for the retirement payroll estimate.
    • Calculation Formula Name: Select the calculation formula. This is the retirement benefit calculation formula set up in ‘Payroll > Settings > Manage Calculation Formula > Retirement Benefit Calculation’.
  6. Select the target from the searched list, and click ‘Calculate Retirement Benefit’.
  7. Enter the retirement calculation information in the Enter Retirement Benefit pop-up window, and click ‘Calculate’. Go to the Calculate Retirement Benefit page.
    • Calculation Formula Name: The calculation formula name selected in retirement benefit calculation is shown.
    • Payroll in Final 3 Months: The payroll for last 3 months from the retirement date entered in retirement benefit calculation is entered automatically. You can review the payroll period and edit it if necessary. The extraction period is reflected according to the entered period, for the extraction from payroll ledger. (If 2021-10-01 - 2021-12-31 is entered, then the period reflects the payroll from October to December.)
      • The payroll selected as ‘Include in retirement benefit calculation (3-month average)’ for the Retirement Benefit Cover field in the ‘Manage Payroll Code’ tab of the ‘Payroll > Settings > Manage Code’ is imported as the Payroll in Final 3 Months.
    • Payroll in Final 12 Months: The payroll for last 12 months from the retirement date entered in the retirement benefit calculation is entered automatically. You can review the payroll period and edit it if necessary. The extraction period is reflected according to the entered period, for the extraction from payroll ledger. (If 2021-01-01 - 2021-12-31 is entered, then the period reflects the payroll from January to December.)
      • The payroll selected as Include in retirement benefit calculation (12-month average) for the Retirement Benefit Cover field in the ’Manage Payroll Code’ tab of the ‘Payroll > Settings > Manage Code’ is imported as the Payroll in Final 12 Months.
    • Retirement Benefit Payment Date: Enter the actual payment date of the retirement benefit. If the retirement payroll estimate is selected, then Retirement Benefit Payment Date is deactivated.
    • Decimal Place: Select round down, round off, or round up. Round up is generally used.
  8. In the Calculate Retirement Benefit page, check and edit items in the ‘Average Payroll’, ‘Service Period’, and ‘Calculate Retirement Benefit’ tabs, and click ‘Save’ in the ‘Calculate Retirement Benefit’ tab.
    • ‘Average Payroll’ Tab

      • It displays the result of extracting the payroll for the entered period of the final 3 months or final 12 months from the payroll ledger.
      • The monthly average or daily average payroll is calculated according to the type of average payroll set in the retirement benefit calculation formula.
      • The calculated average payroll can be modified. Enter the adjustment amount in Adjustment Amount of the average payroll to be modified. Enter the amount as a positive number (+) to add and a negative number (-) to deduct.
    • ‘Service Period’ Tab

      • It displays the calculation results according to the service period of retiring employees.
      • It is displayed with the Days of service, Months of service, or Years of service, based on the standard set in the retirement benefit calculation formula.
      • Number of Excluded Days: This item is entered as the number of excluded days entered in the ‘Individual HR Data’ tab of the ‘Payroll > Settings > Manage Master’ menu.
      • Number of Additional Days: If the increase value is selected for Progressive Retirement Benefit System in the ‘Calculate Retirement Benefit’ tab of the ‘Payroll > Settings > Manage Calculation Formula’ menu, then the ‘Number of Additional Days (Days, Months, or Years)’ field is displayed. The increase value is entered automatically according to the increase section. To adjust the number of days (days, months, or years) of service according to each standard, enter the period to be adjusted in the ‘Number of Additional Days (Days, Months, or Years)’ field.
      • Progressive Rate: If the ‘increase rate’ is selected for Progressive Retirement Benefit System in the ‘Calculate Retirement Benefit’ tab of the ‘Payroll > Settings > Manage Calculation Formula’ menu, then the ‘Progressive Rate’ field is displayed, and the increase rate is entered automatically according to the increase section. To adjust the number of days (days, months, or years) of service according to each criterion, enter the increase rate to be adjusted in the ‘Progressive Rate’ field.
      • Enter the number of additional days and progressive rate as positive numbers (+) to add and negative numbers (-) to deduct.
    • ‘Calculate Retirement Benefit’ Tab

      • It displays the retirement benefit calculated according to the average payroll and service period.
      • Retirement Benefit Adjustment, Adjustment Cause: These are fields to be entered when paying retirement bonuses, etc. in addition to legal retirement benefits. You can enter the adjustment amount and reason.
        • It is entered separately in the retirement benefit statement.
        • The sum of calculated retirement benefit and adjusted retirement benefit are entered as the Retirement Benefit After Adjustment, which is entered as the final retirement income amount.
        • The adjustment cause is entered as the cause in the retirement benefit statement.
  9. Check the calculated retirement benefit amount of the target in the list of retirement benefit calculations.
For employees whose retirement benefit has been calculated, it is impossible to recalculate the retirement benefit or enter it manually. Delete the retirement benefit before calculating it again or entering it manually.
If registered as ‘Executive’ in the ‘Individual HR Data’ tab of ‘Payroll > Settings > Manage Master’, then the Review Whether Executive Retirement Benefit Limit Is Exceeded tab appears additionally. You can review if the executive retirement benefit exceeds the limit and take necessary measures.

Enter Retirement Benefit

You can calculate lump sum retirement benefit and DB-type retirement benefit, or enter them manually.
Although WORKS Payroll provides the retirement benefit calculation according to the Labor Standards Act, you can enter it manually if necessary, depending on the company's circumstances.

The following describes how to enter the retirement benefit.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Enter Retirement Benefit' from the menu.
  4. Click ‘Enter Retirement Benefit’ tab.
  5. If necessary, enter the search conditions in the search window, and then click ‘Search’.
    • Both the type of retirement benefit selected and employees who retired during the month are viewed.
  6. From the list viewed, click for the item to enter the retirement benefit.
    • You can't use this button to enter the retirement benefit for targets already calculated in Calculate Retirement Benefit.
  7. Enter the information in the Enter Retirement Benefit pop-up window, and then click ‘Save’.
    • Retirement Benefit Payment Date: Enter the payment date.
    • Retirement Benefit Calculation Amount: Enter the retirement benefit to be entered manually.
    • Retirement Benefit Adjustment Amount: Enter the adjustment amount. This field is entered to pay additional retirement bonuses, etc. in addition to legal retirement benefits. It is entered separately in the retirement benefit statement.
    • Adjustment Cause: It is separately displayed in the retirement benefit statement.
  8. Check that the retirement benefit entered has been reflected in the list.

Upload Retirement Benefit

The following describes how to bulk upload the retirement benefit targets.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Enter Retirement Benefit' from the menu.
  4. Click ‘Enter Retirement Benefit’ tab.
  5. Click ‘Upload Retirement Benefit’.
  6. In the Upload Retirement Benefit page, click ‘Retirement Benefit Upload Form’ to download the template file.
    • The sample file is downloaded as an Excel file.
  7. Create and save the retirement benefit by referring to the template file.
  8. In the Upload Payroll page, drag the retirement benefit file into the ‘Drag the file with the mouse.’ area, or click ‘Attach File’ to select the retirement benefit file and click ‘Open’.
  9. From the preview list of files to upload, check the details for the retirement benefit to be uploaded, and click ‘Enter’. If the upload fails, then you can check the reason in the Upload Error Details area. Resolve the cause of the error and upload again.

Calculate Retirement Benefit Income Tax

After calculating the retirement benefit, you must calculate the retirement benefit income tax. You can calculate the retirement benefit income tax for the retirement benefit you entered manually.

The following describes how to calculate the retirement benefit income tax.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Calculate Retirement Benefit Income Tax' from the menu.
  4. Enter the search conditions in the search window, and click ‘Search’.
    • Based on the year, the list of final retirement benefits or retirement benefit interim settlements is displayed.
  5. From the list viewed, check Number of Excluded Months, etc., IRP Deposit Amount, and Summation Target Retirement Benefit items of the target to enter the necessary information before calculating the tax amount and click ‘Save’.
    • Number of Excluded Months, etc.: You can enter the number of months excluded from the service period, etc. before calculating the retirement benefit income tax.
      • Adjusted Initial Date: If you want to change the initial date of the service period, then enter it into the adjusted initial date.
      • DB-Type Enrollment Date: You can enter the enrollment date for the DB-type retirement pension.
      • Number of Excluded Months: If necessary, you can enter the number of months excluded from the service period.
      • Number of Additional Months: If necessary, you can enter the number of additional months.
      • Tax Deduction Amount: If there is an amount of tax to be deducted, then enter the tax deduction amount.
    • IRP Deposit Amount: When paying the retirement benefit, you can enter details to deposit the retirement benefit to the personal IRP account of the retiree upon the retiree's request. When depositing to the IRP account upon retirement, the retirement income tax is deferred, and the tax is charged when they withdraw the retirement payroll, which creates a tax-saving effect.
      • Deposit Date: Enter the date deposited to the retiree's IRP account.
      • Deposit Time: Select the deposit time.
      • For the deposit time, you can select between advance deposit and post deposit. If you deposited the retirement benefit to the IRP account before paying the retiree, then select Advance Deposit.
      • If you paid the retirement benefit to the retiree and deposited to the IRP account after deducting taxes first, then select Post Deposit.
      • Select the deposit time accurately since the tax calculations differ for advance deposit and post deposit.
      • Pension Business Name: Enter the IRP operator (bank information).
      • Business Registration Number: Enter the business registration number of the IRP operator.
      • Account Number: Enter the IRP account number.
      • IRP Deposit Amount: Enter the account deposit amount.
    • Summation Target Retirement Benefit: If the retiree has is an interim settlement retirement benefit to be added, then you can enter the additional interim settlement retirement benefit.
      • Interim Settlement Amount: Enter the amount of interim settlement settled in advance.
      • Retirement Income Tax: Enter the income tax that corresponds to the interim settlement retirement benefit amount.
      • Business Registration Number: Enter the business registration number.
      • Business Name: Enter the business name.
      • Number of Excluded Months: If necessary, you can enter the number of months excluded from the service period.
      • Number of Additional Months: If necessary, you can enter the number of additional months.
      • Interim Payment Employment Date: Enter the employment date.
      • Interim Payment Initial Date: Enter the initial date after the interim settlement.
      • Interim Payment Retirement Date: Enter the retirement date.
      • Interim Payment Retirement Date: Enter the interim payment date.
      If the employee has the interim settlement history that occurred before using WORKS Payroll, then you can accurately calculate the retirement benefit and income tax by registering the interim settlement date in Individual HR Data before calculating the retirement benefit, which calculates the number of workdays to be after the interim settlement date.
  6. Select the target to calculate the retirement income tax for from the list, and click ‘Calculate Tax Amount’.
  7. Check the information for the calculated retirement income tax in the Tax Amount Calculation Result pop-up window, and complete the calculation by clicking ‘Close’.
    • To download the list of tax amount calculation results, click ‘Download’. The downloaded file is saved as yyyymmdd_hhmmss.xlsx in the Downloads folder.
  8. Check the retirement income tax for which tax amount calculation is complete in the list.
    • The tax amount calculation status, number of excluded months, number of additional months, IRP deposit amount, summation target retirement amount, retirement income tax, and deferred retirement income tax are displayed.

Delete Retirement Benefit and Income Tax

After the retirement benefit and retirement income tax are entered or calculated, you can delete the retirement benefit and tax amount.
After deleting, you can recalculate the retirement benefit or retirement income tax.

The following describes how to delete the retirement benefit and income tax.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Delete Retirement Benefit and Income Tax' from the menu.
  4. Enter the search conditions in the search window, and then click ‘Search’.
    • Based on the year, the list of final retirement benefits or retirement benefit interim settlements is displayed.
  5. Select the target from the searched list, and use the following two methods to delete the retirement benefit and income tax.
    • Delete Retirement Income Tax: Click to only delete the retirement income tax and retirement income local income tax.
      • The number of excluded months, etc., IRP deposit amount, and summation target interim settlement retirement benefit entered to calculate the retirement benefit and retirement income tax are not deleted.
    • Delete Retirement Benefit and Retirement Income Tax: Click to delete all of the retirement benefit, retirement income tax, and retirement income local income tax.
      • The number of excluded months, etc., IRP deposit amount, and summation target interim settlement retirement benefit, entered to calculate the retirement benefit and retirement income tax, are also deleted.
If there is a slip created, then you can't delete the retirement benefit or retirement income tax.

Manage Retirement Pension

You can manage DC-type retirement pensions.

The flow of the retirement pension management jobs is as follows.

Manage Retirement Pension Job

The calculation of the retirement pension premium is done by the units of job numbers. After calculating the premium for each job number, you can add up the premiums of multiple job numbers to calculate the payment amount.

The reason for calculating the retirement pension premiums by the units of job numbers is to separately calculate the premiums according to various situations.

It is advisable to grant the retirement pension job units by targets that need to have different calculations. For instance, if you have targets with varying calculations such as current employees, employees on leave, employees with a year of service or over, or new employees, then register the job name for each target. After calculating premiums by the units of jobs, you can add up results of multiple job names to record the payment amount to the accumulation ledger at once.

The Manage Retirement Pension Job page is laid out as follows.

 

Area Description
① Search window Search registered retirement pension management jobs by view conditions
② Register Job Management Register Retirement Pension Job Management
③ List of retirement pension job management Check the list of registered retirement pension job management, as well as check, download, edit, and delete targets
④ View Target View and download targets registered in retirement pension job management
⑤ Edit Edit retirement pension job management
⑥ Delete Delete registered retirement pension job management

Register Retirement Pension Job Management

The following describes how to register retirement pension job management.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Manage Retirement Pension' from the menu.
  4. Click the ‘Manage Retirement Pension Job’ tab.
    • You can search the list of retirement pension jobs for the base month.
  5. Click ‘Register Job Management’.
  6. Enter the information in the Enter Retirement Pension Job Management page, and click ‘Save’.
    • Retirement Pension Calculation Base Date: Enter the base date for calculating the retirement pension.
    • Sequence: Enter the sequence.
      • You can register multiple job numbers with different sequences for the same base date.
      • The sequence is granted sequentially, starting with the 1st. You can only register one retirement pension calculation job for the same base date and sequence.
    • Job Name: Enter a job name that can be easily recognized by the admin.
    • Calculation Formula Management Number: For the calculation formula management number, select the calculation from among retirement pension calculation formulas registered in the ‘Settings’ menu.
    • Calculation Period: For the calculation period, enter the retirement pension calculation period.
    • Period Application Method: Select the period application method.
    • Period Application Month/Date: Enter the period application month/date.
      • If calculating every month, then enter the first and last days of the month.
      • If calculating quarterly, then enter the first and last days of the quarter. (For instance, enter 2021.07.01-2021.09.30 for the 3rd quarter.)
      • If calculating half-annually or annually, then enter the first and last days of the corresponding period.
    • Payroll Period for Final 3 Months: The period is automatically calculated according to the base date for calculating the retirement pension. This period can be modified if necessary. The payroll for the period is extracted automatically from the payroll ledger.
    • Payroll Period for Final 12 Months: The period is automatically calculated according to the base date for calculating the retirement pension. This period can be modified if necessary. The payroll for the period is extracted automatically from the payroll ledger.
    • Job Management Status: Select Open for the status. The status must be Open to calculate the premiums by the job unit. After completing the calculation, change the status to Closed before recording on the accumulation ledger.
    • Recalculate Rate Upon Rate Change: If you set the Calculation Standard as Accumulation Rate According to Service Period in the retirement pension calculation formula, then the accumulation rate may change during the calculation period. In this case, the rate is recalculated by prorating if you select Yes for Recalculate Rate Upon Rate Change.
      • Example: If the yearly accumulation rate is 0.0833 for 12 months of service at or over and 0.0923 for 36 months of service at or over, and when the employee's service period becomes 36 months as of August 1, then the accumulation rate is 0.0833 at the start of the year and 0.0923 at the end of the year for calculating the yearly premium. The weighted average accumulation rate calculated by prorating is 0.0833 212/365 + 0.0923 153/365 = 0.087. If you select ‘No’ for the recalculation option, then the accumulation rate based on the last date (0.0923) is used.
  7. After registering retirement pension job management, you must register the targets to be included in the job. From the list, click in retirement pension job management.
  8. In the Edit Retirement Pension Job Management page, click ‘Register Target’.
  9. Add the targets to be registered in the Register Retirement Pension Targets pop-up window, and then click ‘Save’.
    • Registration Targets: They are current employees, as of the base date, who have not been registered for another sequence. Employees can only be assigned to one sequence for the same base date.
    • To register targets, select the targets from the Registration Targets list, and click ‘Add’.
    • To exclude targets, select the targets from the Registration Targets list, and click ‘Delete’.
  10. After registering retirement pension job management, you can check and manage items in the list.
    • To check or download the targets registered for retirement pension job management, click in Search Target of the corresponding item. To download the searched target, click ‘Download’. The downloaded file is saved as yyyymmdd_hhmmss.xlsx in the Downloads folder.
    • To edit retirement pension job management, click ‘Edit’.
    • To delete retirement pension job management, click of the corresponding item.

Calculate Retirement Pension

After registering retirement pension job management, you can calculate the retirement pension.

The following describes how to calculate the retirement pension.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Manage Retirement Pension' from the menu.
  4. Click ‘Calculate Retirement Pension’ tab.
    • The jobs that have the open job management status as of the base month are searched.
  5. From the list viewed, click in the Calculate Retirement Pension column of the item to be calculated.
  6. Select the target to calculate the retirement pension in the Calculate Retirement Pension at Time of Base Month page, and then click ‘Run’.
  7. In the Calculate Retirement Pension page, check and edit items in the ‘Average Payroll’, ‘Retirement Pension Accumulation Rate’, and ‘Calculate Retirement Pension’ tabs, and click ‘Save’ in the ‘Calculate Retirement Pension’ tab.
    • ‘Average Payroll’ Tab
      • Extracts and calculates the average payroll based on the standards set by the retirement pension calculation formula.
      • The average payroll is the result of calculating the monthly average or daily average payroll. This calculation is done by extracting the average payroll for the final 3 months and the average payroll for the final 12 months from the payroll ledger.
      • To download the average payroll calculation results, click ‘Download’. The downloaded file is saved as ManageRetirementPension AveragePayroll_yyyymmdd_hhmmss.xlsx in the Downloads folder.
    • ‘Retirement Pension Accumulation Rate’ Tab
      • It displays the yearly accumulation rate for retirement pension calculated based on the standards set by the retirement pension calculation.
      • When the accumulation rate changes according to the service period, and when the accumulation rate based on the first day of the calculation period and the accumulation rate based on the last day of the calculation period are different, you can select the ‘Recalculation Option’ when registering job management to recalculate the rate as a weighted average by prorating.
      • To download the retirement pension accumulation rate calculation results, click ‘Download’. The downloaded file is saved as ManageRetirementPension RetirementPensionAccumulationRate_yyyymmdd_hhmmss.xlsx in the Downloads folder.
    • ‘Calculate Retirement Pension’ Tab
      • The retirement pension is calculated and displayed based on the average payroll and accumulation rate calculated in the ‘Average Payroll’ tab and the ‘Retirement Pension Yearly Accumulation Rate’ tab.
      • To adjust the retirement pension, enter the adjustment amount in the ‘Adjust Retirement Pension’ input field, and enter the details in the ‘Adjustment Cause’ input field. The adjustment amount is added to the calculated amount of retirement pension to adjust the retirement pension.
      • To download the retirement pension calculation results, click ‘Download’. The downloaded file is saved as ManageRetirementPension RetirementPensionCalculation_yyyymmdd_hhmmss.xlsx in the Downloads folder.

8. Check the calculated retirement benefit amount of the target in the list of retirement benefit calculations.

View Retirement Pension and Delete Target

The following describes how to view the calculated retirement pension and delete the subject when necessary.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Manage Retirement Pension' from the menu.
  4. Click ‘Calculate Retirement Pension’ tab.
    • The jobs that have the open job management status as of the base month are searched.
  5. If necessary, enter the search conditions in the search window, and then click ‘Search’.
  6. From the list viewed, click in the Search and Delete Retirement Pension column of the item.
  7. Check the details for the calculated retirement pension of the target in the Search page.
  8. To delete the target, check to select the target from the list, and then click ‘[Delete’.

Record Retirement Pension Accumulation Ledger

After calculating the premium by retirement pension premium calculation base date and sequence, you can record it on the premium accumulation ledger.

To record on the accumulation ledger, Job Management Status must be set as ‘Closed’. In the ‘Manage Retirement Pension Job’ tab, click to set Job Management Status as Closed, and record on the retirement pension accumulation ledger.

The following describes how to record the retirement pension on the accumulation ledger.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Manage Retirement Pension' from the menu.
  4. Click the ‘Record Retirement Pension Accumulation Ledger’ tab.
    • Jobs from the period that corresponds to the search criteria in the search window are searched.
  5. If necessary, enter the search conditions in the search window, and then click ‘Search’.
  6. Check and select the item to be recorded in the retirement pension accumulation ledger from the searched list, and click ‘Record Retirement Pension Accumulation Ledger’.
    • You can bundle multiple job numbers and record them at once. When bundling multiple job numbers to record them, the calculation value of each job number is added up to a single value.
      • If you're not accumulating the retirement pension for employees with less than one year of service, then you need to additionally reflect that year's accumulation for them when accumulating the retirement pension for the following year.
      • For example, you can configure the job as follows.Combining multiple jobs with different base dates can be very useful.
        • The 1st job for 20201231 calculates the retirement pension on 20201231, and records it in the retirement pension accumulation ledger on 20201231.
        • For the second job for 20201231 and the first job for 20211231, their respective retirement pension premium is separately calculated on 20211231. The calculated amounts of the two jobs are added on 20211231, and recorded in the retirement pension accumulation ledger dated 20211231.
        • By calculating with the method above, for employees whose retirement pension premium was not accumulated on 20201231 because their service period was less than one year on 20201231, their accumulations for 2020 and 2021 are combined on 20211231 and recorded in the accumulation ledger on 20211231.
  7. Check the targets to be recorded in the retirement pension accumulation ledger in the Details of Retirement Pension Ledger Record page, enter the record date in the ‘Record Date’ item, and click ‘Save’.
    • You can check the list of retirement pension targets to be recorded for the selected job.
    • The retirement pension is accumulated for all targets displayed in the searched target list.
    • To download the searched list, click ‘Download’. The downloaded file is saved as yyyymmdd_hhmmss.xlsx in the Downloads folder.
    If the accumulation has been made on the record date for even one person, then you must delete the existing accumulation for all targets clicking ‘Delete Retirement Pension Accumulation Ledger’ and accumulate again.
  8. When the job is complete, you can check the record date in the ‘Accumulation Ledger Record Date’ item of the list of retirement pension accumulation ledger records.
    • To delete a recorded retirement pension accumulation ledger, click ‘Delete Retirement Pension Accumulation Ledger’, enter the deletion date in the pop-up window, and click ‘Delete’. The recorded accumulation ledger is deleted on the date.

View Retirement Pension Accumulation Amount

You can search the amount of accumulated retirement pension premiums recorded in the retirement pension accumulation ledger.

The following describes how to search retirement pension accumulation amount.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Manage Retirement Pension' from the menu.
  4. Click the ‘View Retirement Pension Accumulation Amount’ tab.
  5. If necessary, enter the search conditions in the search window, and then click ‘Search’.
    • You can search the accumulated amount of each person recorded in the retirement pension accumulation ledger during the given period.
  6. Check the search results.
    • To download the retirement pension accumulation amount searched, click ‘Download’. The downloaded file is saved as yyyymmdd_hhmmss.xlsx in the Downloads folder.

View Retirement Benefit (Pension)

You can search the retirement benefit and retirement pension.

Retirement Benefit Calculation History

The following describes how to check the retirement benefit calculation history.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Calculate Retirement Benefit (Pension)' from the menu.
  4. Click the ‘Retirement Benefit Calculation History’ tab.
  5. Enter the search conditions in the search window, and then click ‘Search’.
    • You can search the list of retirement benefits that applies to the entered conditions.
  6. Select the retirement benefit history item to search from the searched list, and click the [View Retirement Benefit Calculation History] button.
  7. In the View Retirement Benefit (Pension) page, click the ‘Average Payroll’, ‘Service Period’, ‘Calculate Retirement Benefit’, ‘Tax Amount, etc.’, and ‘Review Whether Executive Retirement Benefit Limit Is Exceeded’ tabs to check details.

View Retirement Benefit Invoice

You can search retirement benefit invoices in the PDF file format.

The following describes how to search retirement benefit invoices.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Calculate Retirement Benefit (Pension)' from the menu.
  4. Click the ‘Retirement Benefit Calculation History’ tab.
  5. Enter the search conditions in the search window, and then click ‘Search’.
    • You can search the list of retirement benefits that applies to the entered conditions.
  6. Select the retirement benefit invoice item to search from the searched list, and click ‘View Retirement Benefit Invoices’.
    • You can search retirement benefit invoices in the PDF file format.
    • The adjustment amount and adjustment cause of the retirement benefit are entered in the retirement income invoice.

Retirement Pension Calculation History

The following describes how to check the retirement pension calculation history.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Calculate Retirement Benefit (Pension)' from the menu.
  4. Click the ‘Retirement Pension Calculation History’ tab.
  5. Enter the search conditions in the search window, and then click ‘Search’.
    • You can search the list of retirement pensions that applies to the entered conditions.
  6. Select the retirement pension calculation history item to search from the searched list, and click ‘View Retirement Pension Calculation History’.
  7. In the View Retirement Benefit (Pension) page, click the ‘Average Payroll’, ‘Retirement Pension Accumulation Rate’, and ‘Calculate Retirement Pension’ tabs to check details.
    • It is searched with the same history as the Calculate Retirement Pension.
    • To download the retirement pension calculation history searched, click ‘Download’.

Retirement Benefit Ledger

The following describes how to view the retirement benefit ledger.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Calculate Retirement Benefit (Pension)' from the menu.
  4. Click the ‘Retirement Benefit Ledger’ tab.
  5. Enter the search conditions in the search window, and then click ‘Search’.
    • You can search the list of retirement benefits that applies to the entered conditions.
  6. Select the item to be searched, and click ‘View Retirement Benefit Ledger’.
  7. In the View Retirement Benefit Ledger pop-up window, select whether to display personal information.
  8. Click ‘Print’.
  9. The retirement benefit ledger file is downloaded as an Excel file.
    • The downloaded file is saved as RetirementBenefitLedger_yyyymmdd_hhmmss.xlsx in the Downloads folder.

Create Retirement Benefit File

You can search the file that enables transfer of calculated retirement benefit to employees, and preview retirement slips or send them to the Accounting service.

Create Bank Transfer File

After calculating the retirement benefit and retirement income tax, you can create the bank transfer file to pay the actual after-tax retirement benefit amount to retiring employees.

The following describes how to create bank transfer files.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Create Retirement Benefit File' from the menu.
  4. Click the ‘Create Bank Transfer File’ tab.
  5. Enter the search conditions in the search window, and then click ‘Search’.
    • Among Search Month options, Payment Date is the actual payment date of the retirement benefit, registered when calculating or entering the retirement benefit.
  6. Select the target to create the bank transfer file from the searched list, and click ‘Create Bank Transfer File’.
  7. Select the bank transfer file name in the Create Bank Transfer File pop-up window, and click ‘OK’.
  8. Check the creation result in the Preview Bank Transfer File pop-up window, and then click ‘Download’.
    • The downloaded file is saved as BankTransferFile BankName_yyyymmdd_hhmmss.xlsx in the Downloads folder.
    • The saved file can be uploaded to online banking of the transaction bank during bulk transfer, or can be passed to the manager of the bank branch for transfer.

For the payment of the retirement benefit, you can create a bank transfer file for a separate bank account of the retiring employee.

  • Enter the retirement benefit account in Bank for Retirement Benefits/Account Number/Account Holder of Individual HR Data.
  • In the ‘Bank Transfer File’ tab of the ‘Payroll > Settings > Set Reports’ tab, add the management number to add the retirement finance transfer management number.

Submit Retirement Pension Slip

You can submit slips related to retirement benefits to the WORKS Accounting service, preview the slips to be created on the accounting program in use, or download the slips.

The following describes how to submit retirement benefit slips.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Create Retirement Benefit File' from the menu.
  4. Click the ‘Submit Retirement Benefit Slip’ tab.
  5. Enter the search conditions in the search window, and then click ‘Search’.
    • Slip Type: You can select one of the four slip types below.
      • DC-Type Retirement Pension Payment: You can search the list of targets who made payments for a DC-type retirement pension.
      • DB-Type Retirement: You can search the list of targets who subscribed to a DB-type retirement pension.
      • Retirement Payroll Estimate Accumulation: You can search the list of retirement payroll estimates.
      • General Retirement Benefit Retirement: You can search the list of targets calculated with general retirement benefit.
  6. Select the item to create a slip from the searched list, and click ‘Submit Retirement Benefit Slip’.
    • To check the retirement benefit slip in advance, check and select the target item, click ‘Preview Retirement Benefit Slip’, enter the information in the Preview Retirement Benefit Slip pop-up window, and click ‘View’. You can check the details in the Preview Retirement Benefit Slip pop-up window displayed.
      • Script Text in Front of Note/Behind Note: If you click ‘View’ after entering the text to be added in front of/behind the note, then the Preview Retirement Benefit pop-up window appears to search details for the retirement benefit slip.
  7. Once the slip is submitted, it is automatically submitted to the WORKS Accounting service, and you can check the management number and slip transmission status in the list.

Cancel Retirement Pension Slip

The following describes how to cancel submitted retirement benefit slips.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Submit Retirement Benefit File' from the menu.
  4. Click the ‘Submit Retirement Benefit Slip’ tab.
  5. Enter the search conditions in the search window, and then click ‘Search’.
    • Slip Type: You can select one of the four slip types below.
      • DC-Type Retirement Pension Payment: You can search the list of targets who made payments for a DC-type retirement pension.
      • DB-Type Retirement: You can search the list of targets who subscribed to a DB-type retirement pension.
      • Retirement Payroll Estimate Accumulation: You can search the list of retirement payroll estimates.
      • General Retirement Benefit Retirement: You can search the list of targets calculated with general retirement benefit.
  6. From the list of search results, click of the item to cancel the slip.
  7. Check the details in the confirmation pop-up window, and then click ‘OK’.

View Retirement Benefit Tax Forms

When the calculation of the final retirement benefit or retirement income tax for the retirement benefit interim settlement is done, you can search the receipts for retirement income tax withholding.

The following describes how to search retirement income tax withholding receipts.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > Submit Retirement Benefit File' from the menu.
  4. Enter the search conditions in the search window, and then click ‘Search’.
    • For the Type, you can select between final retirement benefit and retirement benefit interim settlement. For the Base Date, you can enter the final retirement date or interim settlement date.
  5. Select the target to be searched in the searched list, and click ‘View Retirement Income Tax Withholding Receipts’.
    • You can search retirement income tax withholding receipts in the PDF file format.
If the calculation of the tax amount is not complete, then it is searched without displaying the tax amount.

File for Retirement Benefit Taxes

The businesses that pay retirement benefit need to submit the payment statement every year to Hometax in the form of electronic file.
You can file electronic payment statements to be filed by March 10 of every year using the retirement benefit tax filing feature.

The retirement benefit and interim settlement paid every month are automatically reflected to File for ‘Payroll Taxes > Report on the status of withholding’ according to the imputed month.

The following describes how to create retirement benefit payment statements and submitting them to National Tax Service Hometax.

  1. Click the ‘Admin Menu’ at the top right of the PC web screen, and then click ‘Payroll’ in the pop-up window.
  2. Click at the top left of the screen.
  3. Click 'Retirement Benefit > File for Retirement Benefit Taxes' from the menu.
  4. Enter the search conditions in the search window, and then click ‘Search’.
    • You can search the targets who can file according to the entered conditions.
    • Date Classification: Select the retirement (interim settlement) date or payment date. (Selection of the retirement date advised)
    • Search Period: Select the period to file. The period is usually from January 1 to December 31.
  5. Select the target to file from the searched list, and click ‘Preview’ to check details before filing.
    • Enter the information in the Preview Retirement Benefit Tax Filing pop-up window, and click ‘Preview’.
      • Report Year: Enter the report year.
      • Submission Date: Enter the submission date.
      • Submitter Type: Select the submitter type.
      • Managing Business Place of Filing: Select the business place that manages filing. When submitting the payment statement, it is entered based on the submitter's information (Record A).
      • Manager Department, Manager Name, Manager Phone Number: Enter the information for the manager.
    • Click ‘Save’ in the View Details of Retirement Benefit Tax Filing pop-up window to preview the payment statement data as an Excel file.
  6. Select the target to file for from the searched list, and click ‘Download Plaintext’.
    • You can download the retirement benefit payment statement file as an electronic file that can be submitted to National Tax Service Hometax.
  7. Submit the downloaded retirement benefit payment statement file by uploading it on Hometax (https://www.hometax.go.kr).
If the retirement benefit payment date and imputed year differ, then the tax amount calculation may not be accurate because the tax law standard is amended every year.
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